1. Technical Field
The disclosed technology relates to systems and methods for forecasting peak demand events (i.e., for a consumable resource), and in particular, for facilitating the prediction of peak demand events based on historic weather and resource consumption data that do not rely on resource production capacity.
2. Introduction
Some utilities, such as power providers, are interested in the occurrence of peak demand events, such as the forecasting of peak demand days. However, because a major concern for many utilities is reducing demand for the purpose of avoiding auxiliary energy production, peak demand is often conceptualized as a measure of electricity demand approaching or exceeding total production capacity. Consequently, peak demand events, as understood by many utility providers, are not informative measurements for determining when resource consumption demand may be reduced generally, for example, using demand response (DR) or behavioral demand response (BDR) applications at times when total demand is well below production capacity.